(EMU) with a view to making policy recommendations regarding improvements to the EMU institutional architecture. We build … formally take account of the negative externality' problem that has been central to policy debates related to the EMU … dynamics of the political formation within the EMU. The analysis suggests that, under the present political-economic set-up of …

Eurozone in two parts. Part I explains why limited liability may have resulted in excessive debt accumulation: A commitment …. Die Arbeit analysiert das Staatsschuldenproblem in der Eurozone in zwei Teilen. Teil I erläutert, warum ein Problem der …

Eurozone in two parts. Part I explains why limited liability may have resulted in excessive debt accumulation: A commitment …

analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the … political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our …

analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the … political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our …

EMU -- Greek crisis ; bail-out ; negative externality ; political economics ; game theory ; euro ; EMU … analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the …

. -- Greek crisis ; bail-out ; negative externality ; political economics ; game theory ; euro ; EMU … analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the …

analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the … political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our …